If a restaurant was a natural monopoly, its
A) marginal revenue curve would be horizontal.
B) marginal revenue curve would be the same as its demand curve.
C) marginal cost curve would still be declining when it crossed the demand curve.
D) average total cost curve would still be declining when it crossed the demand curve.
D
Economics
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Refer to Figure 13-1. Ceteris paribus, a decrease in households' expectations of their future income would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
Economics
Western agriculture in the nineteenth century can be characterized by
(a) a rising labor to output ratio. (b) a rising capital to output ratio. (c) the use of marginal land to increase output. (d) a shift to more efficient crops.
Economics